Syfe Trade

[reddevil0728]

Noted

For Syfe trade faq says below
"For Syfe Trade, our sub-custodian for US securities is a broker-dealer registered with the SEC, a member of FINRA and a member of the SIPC (Securities Investor Protection Corporation). SIPC protects against the loss of cash and securities held by a customer up to USD 500K. For additional details, please visit www.sipc.org"

Not sure if Syfe go bust our fractional shares holdings also go bust or not. Quite new to Syfe trade

I think if there's SIPC protection is fine. but the think if it is secured, it might take sometime before u can get access to your holdings. that's also a -ve

 

[sohguanh]

I think if there's SIPC protection is fine. but the think if it is secured, it might take sometime before u can get access to your holdings. that's also a -ve

Which is why I go for fractional shares with low capital so if kena I lose small also. I am thinking about US 10 worth of fractional shares so 1 year about US 120 so if lose all is less than SGD 200

 

[reddevil0728]

Which is why I go for fractional shares with low capital so if kena I lose small also. I am thinking about US 10 worth of fractional shares so 1 year about US 120 so if lose all is less than SGD 200

huh? so your entire portfolio is only in the hundreds?

 

[sohguanh]

huh? so your entire portfolio is only in the hundreds?

I got different investment instruments so monies spread around. FD,insurance endowment,UT,S-REIT stock,now ETF so US stock put abit test water first. I never put all eggs into one basket so US stock fractional shares will be one of them in my basket of investment instruments

 

[silverbomb]

yea. i mean for sure. cumulatively it may not reach the level that it matters for small time trader.

but my AGENDA is to educate people about PFOF, instead of people thinking FREE means GOOD. which is not true.

If it is really free and no strings attached, i am not sure if i would want to trade with this broker also, cause dunno if they can survive, then whatever i buy and hold might end up being gone if they collapse

i learnt last year about PFOF via Youtube when RobinHood in US is scrutinised for this which is how it caught wind and many US brokers followed suit with this "zero fee" approach in the past many years but in actual fact they do stand to gain per share traded. many RobinHood users were wondering why their GME did not fulfil even though the sell price hit the market data and it was crunchtime to enter and exit fast for those meme stocks back then.

good edu for the local market, as up to 1-2 years ago zero fees brokers are far and few or unheard of for US markets in SG. the barrier to entry for US market was pretty high for SG many years back (e.g. DBS) till all the brokers penetrated and brough these down which is good overall but PFOF is something ppl should be aware is happening.

 

[reddevil0728]

i learnt last year about PFOF via Youtube when RobinHood in US is scrutinised for this which is how it caught wind and many US brokers followed suit with this "zero fee" approach in the past many years but in actual fact they do stand to gain per share traded. many RobinHood users were wondering why their GME did not fulfil even though the sell price hit the market data and it was crunchtime to enter and exit fast for those meme stocks back then.

good edu for the local market, as up to 1-2 years ago zero fees brokers are far and few or unheard of for US markets in SG. the barrier to entry for US market was pretty high for SG many years back (e.g. DBS) till all the brokers penetrated and brough these down which is good overall but PFOF is something ppl should be aware is happening.

Yes rather than just choose a zero commission entirely based on face value

 

[PongRareRare]

When add money in, can auto buy in USD or need to explicitly go convert to USD? Cos my fund already showing in USD, I didn’t even convert but there’s a convert tab for us to convert so a bit confusing.

 

[direbmem]

But PFOF must be declared by the brokerage right? Can anyone point to the official source whereby Syfe declares they are doing PFOF? I remember Kelvin Learns Investing did a video which interviewed Syfe Trade that confirms Syfe Trade doesn't use PFOF. I don't think he would anyhow give info though he's not the official source. Morever, Syfe doesn't offer permanent free trade only up the 5 per month.

 

[reddevil0728]

But PFOF must be declared by the brokerage right? Can anyone point to the official source whereby Syfe declares they are doing PFOF? I remember Kelvin Learns Investing did a video which interviewed Syfe Trade that confirms Syfe Trade doesn't use PFOF. I don't think he would anyhow give info though he's not the official source. Morever, Syfe doesn't offer permanent free trade only up the 5 per month.

Can share the Kelvin learns video?

Kudos for having the patience to explain PFOF to people who might not even appreciate it.

Some people just want to win their argument, shut out opposing views, and stay close-minded for the rest of their lives.

Anyway, just to confirm this: Syfe's partner in the US is Alpaca Securities LLC. A quick search will show that they receive payments from Virtu Americas, LLC, Citadel Execution Services, and Jane Street for routing orders to them.

 

[iceblendedchoc]

But PFOF must be declared by the brokerage right? Can anyone point to the official source whereby Syfe declares they are doing PFOF? I remember Kelvin Learns Investing did a video which interviewed Syfe Trade that confirms Syfe Trade doesn't use PFOF. I don't think he would anyhow give info though he's not the official source. Morever, Syfe doesn't offer permanent free trade only up the 5 per month.

From the video, syfe only earn on exchange rate (which is behind IBKR, Tiger but better than moomoo)and trading fees after the free trade are used up. They dun do PFOF.

 

[dappermen]

They dun do PFOF.

no 1 can verify that , Sorry!

Can anyone vouch that all the other Brokers dont pfof too?
Kelv cannot vouch too!
but tks for being so helpful to dig it out just for them









WHat is the fuss of PFOF ? who is going bkrupt, honestly? Felt cheated, scammed?

 

[dappermen]

cant wait to try??!!! this is Not Sponsored video!!!!!!!!
compare urself

direbmem is kelvin???!!!!!!!!

Edit: omg he quoted my post! Haha, am I famous now?

i shared that then is cos i felt just like this thread (anyone is free to share why use Syfe trade) , he is sincere and the purpose is more on using Syfe trade, not harping on why PFOF suddenly all the brokers thread became zooming into just 1 topic on PFOF and endless spamming just on PFOF


icebchoc , also responded to that video then, u raised very gd qn too, but not on PFOF (no1 did , suddenly someone raise a campaign spam or scam u may call it just on PFOF)

based on the video we cannot see anything too on PFOF , so why do spend time spamming all the brokers ; thread on PFOF?

Not just1 youtuber shared about moo or syfe , aplenty! so? r we gonna held them accountable for not mentioning PFOF ??????? hundreds of youtubers sharing! and some shared on other soc media like tictok and fb, IG too , and then we spam on all their postings to warn the rest????????????
Why cant we open a thread on just PFOF for 1 activist to bark on that Tree of PFOF ?

 

[s0crates]

From the video, syfe only earn on exchange rate (which is behind IBKR, Tiger but better than moomoo)and trading fees after the free trade are used up. They dun do PFOF.

You don't understand how these folks do it.

Just because Syfe doesn't earn from PFOF doesn't mean Alpaca securities, their broker is not earning from PFOF, or using PFOF so that syfe doesn't have to pay for brokerage service.

The most obvious example is the moneyowl CPF portfolio. They keep on claiming no trailer fees when obviously (from Endowus) there are trailer fees. In that case IFAST is the one taking the trailer fees so they get more revenue.

IBKR PRO doesn't take PFOF
https://sg.finance.yahoo.com/news/e...ow-interactive-brokers-founder-200712282.html

 

[reddevil0728]

no 1 can verify that , Sorry!

Can anyone vouch that all the other Brokers dont pfof too?
Kelv cannot vouch too!
but tks for being so helpful to dig it out just for them









WHat is the fuss of PFOF ? who is going bkrupt, honestly? Felt cheated, scammed?

i shared that then is cos i felt just like this thread (anyone is free to share why use Syfe trade) , he is sincere and the purpose is more on using Syfe trade, not harping on why PFOF suddenly all the brokers thread became zooming into just 1 topic on PFOF and endless spamming just on PFOF


icebchoc , also responded to that video then, u raised very gd qn too, but not on PFOF (no1 did , suddenly someone raise a campaign spam or scam u may call it just on PFOF)

based on the video we cannot see anything too on PFOF , so why do spend time spamming all the brokers ; thread on PFOF?

Not just1 youtuber shared about moo or syfe , aplenty! so? r we gonna held them accountable for not mentioning PFOF ??????? hundreds of youtubers sharing! and some shared on other soc media like tictok and fb, IG too , and then we spam on all their postings to warn the rest????????????
Why cant we open a thread on just PFOF for 1 activist to bark on that Tree of PFOF ?

Actually there is no big fuss at all until you made it one by perpetuating an agenda of trying to hide stuff from people.

You are perfectly entitled to share your POV, and educate people about which broker you think is the best and why.

But you are doing it from the perspective of trying to 1) suggesting that "no one" bothers about about why can brokers charge 0 commission and still survive and 2) trashing interface of some broker in a totally irrelevant thread?

If you think it isn't a big fuss, then why are you continuously keep harping on it when people try to educate others about it?

if you still think that your opinion about certain broker is so superior, why do you need to resort to trashing others? You don't have to unless you are insecure about it.

Just leave it? let people decide?

 

[direbmem]

You don't understand how these folks do it.

Just because Syfe doesn't earn from PFOF doesn't mean Alpaca securities, their broker is not earning from PFOF, or using PFOF so that syfe doesn't have to pay for brokerage service.

The most obvious example is the moneyowl CPF portfolio. They keep on claiming no trailer fees when obviously (from Endowus) there are trailer fees. In that case IFAST is the one taking the trailer fees so they get more revenue.

IBKR PRO doesn't take PFOF
https://sg.finance.yahoo.com/news/e...ow-interactive-brokers-founder-200712282.html

Then anyone knows where to find where Alpaca Securities declare they do pfof?

 

[CrashWire]

Then anyone knows where to find where Alpaca Securities declare they do pfof?

I posted this link in a post on the previous page:

https://files.alpaca.markets/disclosures/library/SEC+606a1+-+2021Q4.pdf

 

[s0crates]

Then anyone knows where to find where Alpaca Securities declare they do pfof?

Man you just have to search "alpaca payment for order flow" and the first result would have gave you the answer you are searching for. Here you to anyway

https://alpaca.markets/learn/love-i...-order-flow-and-commission-free-trading-apps/
"If you’ve ever wondered how brokerages like Alpaca and Robinhood are able to offer commission-free trading, payment for order flow subsidizes commission-free trading, which is now the industry standard for U.S. brokers. Certain markets, such as the U.K. have banned payment for order flow."

The two questions I would ask syfe trade is

1. How do you initially come to the assessment that Alpaca securities is able to execute trades competitively?

2. How do you monitor and be satisfied that Alpaca is able to execute trades competitively, and your clients are not over-paying through huge bid-ask spreads?

Alpaca is literally described as enabling platforms like syfe to be another robinhood

https://techcrunch.com/2019/11/08/alpaca-stock-trading-api/
Anyway.... I am sure my questions already answer why more sophisticated retail investors won't bother with these new age neo brokers or platforms. Lol.

 

[dappermen]

Sophisticated? or price-conscious?​

Cheaper to invest using Syfe Trade or Syfe wealth if u r into S&P500?​

good qn raised abt UI: not sure was it answered by now - https://forums.hardwarezone.com.sg/threads/syfe-trade.6672146/#post-139116123







for those who cannot get over PFOF or ... go spam here pls : https://forums.hardwarezone.com.sg/threads/pfof-does-mas-look-at-such-insignifcant-issue.6738463/ (create this for VIPs only)

not just 1 person incessantly harping on an insignificant issue but whole troop of endless spamming for the whole week , as if there is a need to debate on a Life & Death topic

Incessantly spam all the threads from stashaway to everywhere continously for weeks ….
https://forums.hardwarezone.com.sg/...cussion-thread.5657352/page-23#post-141073344


never do i like to list names down , if they try again? will list down the 2nd name

 

[dappermen]

Syfe trade may not have an advantage now! cos Ibkr can also Fractional:

Invest w IBKR in the stocks you want regardless of share price​

 

[sohguanh]

Syfe trade may not have an advantage now! cos Ibkr can also Fractional:

Invest w IBKR in the stocks you want regardless of share price​

I read in another Msia forum IBKR long time (before Syfe) already can fractional share. It is just when selling fractional shares a reader share say need to wait for about 10 mins to be filled. That is also the same question I ask earlier for Syfe fractional selling is fast? A reader with Syfe say it is fast.